We expect KB Securities to remain integral to KB Financial Group, considering the revenue diversification and cross-selling benefits the company brings to the group. The rating on KB Securities therefore mirrors the group's credit profile excluding government support. We are assigning our 'A-' long-term and 'A-2' short-term issuer credit ratings to KB Securities, a Korea-based company. The stable outlook on KB Securities reflects our view that KB Financial Group will maintain its credit profile and strong commitment of support to the company for the next two years at least. On July 3, 2018, S&P Global Ratings assigned its 'A-' long-term and 'A-2' short-term issuer credit ratings to Korea-based KB Securities Co. Ltd. The outlook on the long-term rating is stable.
